MIDDLE EAST: Proceed with Caution

The Islamic revolution in Iran has sent out shock waves of confusion and
distress throughout the monarchies of the Middle East. A state of
jitters prevails in the Arabian peninsula, whose petroleum exports are
vital to the security of the U.S.
and its allies. The rulers of Saudi Arabia, the largest oil exporter of
all, are reported to be frightened; a new set of security regulations
is in force throughout the country. The governments of the tiny states
of the Persian Gulf...